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The Board’s Sights Set on PREPA

The federal entity warns that a general restructuring of the obligations is only achievable in court

22 de marzo de 2017 - 8:53 AM

Archival note
This content was published more than 7 years ago.
Today’s hearing at the House Subcommittee on Insular Affairs will see depositions from Governor Ricardo Rosselló, members of the OB, and bondholders. (Archive/GFR)
Today’s hearing at the House Subcommittee on Insular Affairs will see depositions from Governor Ricardo Rosselló, members of the OB, and bondholders. (Archive/GFR)

WASHINGTON – For the Oversight Board (OB) to be able to execute a general restructuring of the Puerto Rico Electric Power Authority’s (PREPA) obligations, including the rates and the plan to reduce service costs, their only recourse would be Title III of PROMESA, which established the judicial bankruptcy mechanism.

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